Debt-for-nature swaps: A bibliometric analysis of global research trends (1988–2025)

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Type of the article: Research Article

Abstract
This study provides the first comprehensive bibliometric mapping of the Debt-for-Nature Swap (DFNS) literature over the period 1988–2025, highlighting its intellectual structure, thematic evolution, and global patterns of scientific collaboration. A total of 117 publications were retrieved from the Scopus database using targeted keyword searches and analyzed with the Bibliometrix package in R. The analysis included annual publication trends, productivity by authors, institutions, and countries, most cited works, keyword co-occurrence networks, thematic maps, and trend topic analyses. Results show that DFNS research initially focused on environmental protection and debt relief, but since 2015 has shifted toward climate finance, blue bonds, and sustainable development. Notable turning points include the Seychelles’ issuance of the first blue bond in 2018 and renewed interest following the COVID-19 debt surge. The United States, the United Kingdom, and China lead in research output, while most DFNS projects are implemented in developing countries. Citation and thematic analyses reveal integration with biodiversity conservation and emerging links to innovative financial instruments. By systematically mapping the field and identifying research gaps, this study offers evidence-based insights for environmental economics, guiding policy design at the intersection of sovereign debt management, biodiversity conservation, and climate finance.

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    • Figure 1. Annual DFNS publications
    • Figure 2. Keywords co-occurrence network
    • Figure 3. Thematic map
    • Table 1. Main information
    • Table 2. Most productive authors
    • Table 3. Most productive institutions
    • Table 4. Most productive countries
    • Table 5. Most cited documents
    • Table 6. Most relevant sources
    • Conceptualization
      Cansel Oskay
    • Data curation
      Cansel Oskay
    • Formal Analysis
      Cansel Oskay
    • Funding acquisition
      Cansel Oskay
    • Investigation
      Cansel Oskay
    • Methodology
      Cansel Oskay
    • Project administration
      Cansel Oskay
    • Resources
      Cansel Oskay
    • Software
      Cansel Oskay
    • Supervision
      Cansel Oskay
    • Validation
      Cansel Oskay
    • Visualization
      Cansel Oskay
    • Writing – original draft
      Cansel Oskay
    • Writing – review & editing
      Cansel Oskay